SABB, Saudi Hollandi capital hike approved

Saudi Arabia’s financial regulator has approved a 33 percent capital increase for Saudi British Bank (SABB) and a 20 percent hike for Saudi Hollandi Bank, it said in separate filings on Sunday.
SABB, an affiliate of HSBC, will raise its capital to 10 billion riyals ($2.67 billion) from 7.5 billion riyals by transferring 2.5 billion riyals from its retained earnings. It will issue a bonus share for every three existing shares owned by registered shareholders, bringing its total number of shares to 1 billion………………………………………Full Article: Source